Intellia Therapeutics (NASDAQ:NTLA) Given New $50.00 Price Target at Truist Financial

Intellia Therapeutics (NASDAQ:NTLA) had its price objective lowered by Truist Financial from $90.00 to $50.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

NTLA has been the topic of several other reports. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a research report on Monday. JPMorgan Chase & Co. restated a “neutral” rating and issued a $13.00 target price (down from $45.00) on shares of Intellia Therapeutics in a research report on Friday, February 28th. William Blair restated a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research report on Monday, November 18th. Citigroup raised their target price on Intellia Therapeutics from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Finally, Chardan Capital lowered their target price on Intellia Therapeutics from $91.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.00.

Intellia Therapeutics Trading Down 3.7 %

Shares of Intellia Therapeutics stock opened at $9.10 on Tuesday. The business’s 50 day simple moving average is $10.74 and its 200-day simple moving average is $15.36. The stock has a market capitalization of $942.00 million, a price-to-earnings ratio of -1.67 and a beta of 1.97. Intellia Therapeutics has a twelve month low of $8.30 and a twelve month high of $32.42.

Insider Transactions at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the sale, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 29,000 shares of company stock valued at $352,551 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Large investors have recently modified their holdings of the stock. ARK Investment Management LLC lifted its holdings in shares of Intellia Therapeutics by 2.3% in the fourth quarter. ARK Investment Management LLC now owns 12,536,386 shares of the company’s stock valued at $146,174,000 after purchasing an additional 280,946 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Intellia Therapeutics by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 10,190,053 shares of the company’s stock valued at $118,816,000 after purchasing an additional 562,249 shares in the last quarter. State Street Corp lifted its holdings in shares of Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after purchasing an additional 780,754 shares in the last quarter. Regeneron Pharmaceuticals Inc. purchased a new stake in shares of Intellia Therapeutics in the fourth quarter valued at $43,177,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Intellia Therapeutics by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,389,240 shares of the company’s stock valued at $27,865,000 after purchasing an additional 45,930 shares in the last quarter. 88.77% of the stock is owned by institutional investors.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.